Trualt Bioenergy IPO
Open MainLineCurrent GMP
₹85 (+17.14%)
Price Band
₹ 472 – 496
Lot Size
30
Issue Size
₹839.28 Cr
Minimum Investment
₹14880 (30 Shares)
Listing Date
03 October 2025
Subscription
71.92x
About the Company
Incorporated in 2021, Trualt Bioenergy Limited is a leading player in India’s renewable energy sector, primarily engaged in the production of biofuels, with a key focus on ethanol. As of Fiscal 2025, the company ranks among the largest ethanol producers in India, with an installed production capacity of 2,000 kilolitres per day (KLPD), representing a 3.6% share of the national ethanol production capacity.
Trualt’s business operations encompass ethanol and compressed biogas (CBG) production. As of March 31, 2025, its wholly-owned subsidiary, Leafinity, operates a CBG plant with a capacity of 10.20 tonnes per day (TPD). To expand its CBG footprint, the company has signed Memorandums of Understanding (MoUs) with a prominent Japanese gas company and Sumitomo Corporation Asia & Oceania Pte. Ltd.
The company currently operates five distillery units in Karnataka, of which four utilize molasses and syrup-based feedstocks.
Looking ahead, Trualt Bioenergy is actively exploring expansion into new verticals, including:
- Second-generation ethanol
- Sustainable aviation fuel (SAF)
- Mevalonolactone (MVL) and allied biochemicals
Competitive Strengths
- Market Leader in Ethanol Capacity: Holds the largest installed ethanol production capacity in India.
- Integrated and Scalable Operations: Efficient resource management supports sustainable growth.
- Strategic Infrastructure: Production units are well-located, leveraging technology and sustainability.
- Favorable Industry Positioning: Positioned to benefit from supportive regulatory and market trends.
- Established Customer Base: Strong, long-term relationships with key clients ensure consistent demand.
- Experienced Leadership: Guided by skilled promoters and a seasoned management team.
Promoters
- Vijaykumar Murugesh Nirani
- Vishal Nirani
- Sushmitha Vijaykumar Nirani
Promoters Holding
Holding Pre Issue
88.20%
Holding Post Issue
70.55%
Objects of the Issue
The Company TruAlt Bioenergy IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Funding capital expenditure towards setting- up multi-feed stock operations to pave- way for utilizing grains as an additional raw material in ethanol plant at TBL Unit 4 of 300 KLPD capacity.
- Funding our working capital requirements.
- General corporate purposes
Address / Contact Info
Trualt Bioenergy Ltd.
Survey No. 166, Kulali Cross,
Jamkhandi Mudhol Road, Bagalkot,
587313, Karnataka, India
Bagalkot, Karnataka, 587313
Phone: 080 2325 5000
Email: cs@trualtbioenergy.com
Website: https://www.trualtbioenergy.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Thursday, 25 September 2025
IPO Close Date
Monday, 29 September 2025
Basis of Allotment
Tuesday, 30 September 2025
Initiation of Refunds
Wednesday, 01 October 2025
Credit of Shares to Demat
Wednesday, 01 October 2025
Listing Date
Friday, 03 October 2025 — NSE & BSE
Important Dates
Open Date
25 September 2025
Close Date
29 September 2025
Basis Of Allotment
30 September 2025
Listing Date
03 October 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Assets | 3029.73 | 2419.08 |
| Revenue | 1968.53 | 1280.19 |
| Profit After Tax | 146.64 | 31.81 |
| Net Worth | 0 | 0 |
| Reserve & Surplus | 0 | 0 |
| Total Borrowings | 1549.68 | 1684.68 |
EPS Pre
20.76%
EPS Post
17.10%
P/E Pre
23.89
P/E (Post Issue)
29.01x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI As On |
|---|---|
| ROE % | 28.27 |
| ROCE % | 10.88 |
| Debt / Equity | 2.02 |
| RoNW % | 19.07 |
| PbW | 0 |
| Pat Margin % | 16.2 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 3384195 | 28.57 | 0 |
| Non-Institutional | 2538145 | 21.43 | 0 |
| BNII | 1692097 | 14.29 | 0 |
| SNII | 846048 | 7.14 | 0 |
| Retail Investors | 5922339 | 50 | 0 |
| Total | 11844679 | 100 | 0 |
Subscription Status ( Wed, 01 Oct 25 01:17 AM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 3510508 | 558931920 | 159.22x |
| Non-Institutional | 2653475 | 261530760 | 98.56x |
| BNII | 1768984 | 200715030 | 113.46x |
| SNII | 884491 | 60815730 | 68.76x |
| Retail Investors | 6191441 | 68104140 | 11x |
| Total | 12355424 | 888566820 | 71.92x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 30 | 14,880.00 |
| Retail (Max) | 13 | 390 | 193,440.00 |
| S-HNI (Min) | 14 | 420 | 208,320.00 |
| S-HNI (Max) | 67 | 2,010 | 996,960.00 |
| B-HNI (Min) | 68 | 2,040 | 1,011,840.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- SBI Capital Markets Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Trualt Bioenergy IPO is a Book-building IPO worth ₹839.28 crores. The price band is ₹472 to 496 per share. The IPO opens on Thu, Sep 25, 2025 and closes on Mon, Sep 29, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Trualt Bioenergy IPO opens on Thu, Sep 25, 2025 and closes on Mon, Sep 29, 2025
Trualt Bioenergy IPO Price Band is ₹472 to 496.
Trualt Bioenergy IPO lot size is 30, and the minimum amount required for application is ₹14880.
The minimum investment for Trualt Bioenergy IPO is approximately ₹14880 based on the upper price band.
To apply for the Trualt Bioenergy IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Sep 29, 2025. After submission, funds are blocked until the basis of allotment of Trualt Bioenergy IPO is finalised.
Trualt Bioenergy IPO issue size is ₹839.28 crores.
Trualt Bioenergy IPO allotment date is Sat, Jun 27, 2026.
The registrar for Trualt Bioenergy IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Trualt Bioenergy IPO through their official website or helpline.
The Trualt Bioenergy IPO GMP (Grey Market Premium) is ₹85 as of Fri, Oct 3, 2025. Based on the upper price band of ₹496 per share, the estimated Trualt Bioenergy IPO listing price is ₹581, indicating a potential listing gain of approximately 31% over the issue price.